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20121202
20121210
Search Results 0 to 4 of about 5 (some duplicates have been removed)
the federal budget deficit. he knows something about something. he was around when clinton -- remember that economy? okay. he said i wish president obama and the democrats would explain to the nation the federal budget deficit isn't the major problem and deficit reduction shouldn't be the major goal. problem is lack of good jobs and the goal must to be revive both. deficit reduction leads us away from jobs and growth. the reason the fiscal cliff is dangerous is because it's too much deficit reduction too quickly that would suck demand out of the economy. more jobs and growth will help the deficit. recall the '90s when the clinton administration balanced the budget because of faster job growth than anybody expected bringing in more tax revenues than anyone had forecast. europe offers the same lesson in reverse. thank you. as jim says, every time we talk about this, they keep taking the wrong -- lindsey graham said we're going to be greece. yeah, if we do what you want! the best way to generate jobs and growth is
. they also want us to begin to balance the books just like we did under president clinton with a sensible, balanced approach, one that led to increasing wages across the board, increasing productivity, increasing employment, and a budget surplus in 2000 before president george w. bush took over. last year we cook a step in that direction. we cut $1 trillion in federal spending, we don't hear much about it particularly from the other side of the aisle. but what it means is that every discretionary program will see less funding for the next decade, which will have a huge impact on my state and every state in this country. now, if we're going to cut spending on education, research, and transportation to the tune of approximately $1 trillion, i think most americans recognize that the other side of the equation has to be considered. revenue needs to be part of the balance plan to reduce the debt. and the simple fact of the matter is that virtually every expert panel and commentator has said clearly in order to reduce the deficit to a sustainable level, revenues have to go up. it's a matter of
tax rates for the wealthiest among us an economic growth. first during the clinton administration, the top marginal tax rate was raised on the wealthiest individuals and the economy grew at its fastest rate in a generation. it added more than 22 million jobs. during the following eight years, the top marginal rate dax tax rate was lower, but economy never regained its strength from the reviews decade. job growth slowed and wages stagnated. middle-class families are vulnerable when the recession began at the end of 2007. i hope this hearing is helpful not just in this hearing, but across this country to people who are watching and waiting for congress to act. i will say more at the end about some of our members who are leaving. it has been an honor for me to serve as chairman of this committee and also served with my friend, kevin brady, as vice chair. he has been great to work with. i hope there'll be bipartisan success in congress. i look forward to working with him as i change seats in the senate for the next congress. -- in a sense for the next congress. i am grateful to our wi
clinton's former chief of staff. since then, there has been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to push our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. even if the president got the tax rate hike he wanted, understand we will continue to see $1 trillion deficits for as far as the eye can see. washington has got a spending problem, not a revenue problem. if the president does not agree with our proposal, we believe he has got an obligation to families and small businesses to offer a plan of his own, a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> you spoke with the president this week. how do you characterize that call? also, we understand that he is making clear that it will have to be increasing rates for the wealthy or no deal. are you willing to give a little bit, if not all of the way to 39.6? >> it was pleasant, but it was more of the
Search Results 0 to 4 of about 5 (some duplicates have been removed)